How MindInventory Assisted Sidepocket with its Backend Bottlenecks

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The Brief

  • Sidepocket is a tactical asset allocation robo-advising app with which the company strives to redefine the way individuals engage with their financial futures, fostering a new era of inclusive and informed investment practices. This app is designed to minimize drawdown and risk while maximizing diversification and potential profits to help individuals transform how they approach investments.
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The Challenge

  • As this app leverages cutting-edge technology to make tactical asset allocation accessible to the world, it is essential to ensure that the data the app fetches is accurate and time-sensitive. This is where the company struggled to manage the ever-growing influx of data and optimize backend algorithms to not only ensure scalability but also guarantee real-time accuracy, and reliable, up-to-the-minute financial data.
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The Solution

  • No challenge is ever big when developers have experience working with a similar set of backend infrastructure bottlenecks. Here is how our experienced backend developer implemented some solutions to tackle these challenges:

Microservices based architecture

The implementation of a microservices architecture emerged as a key strategy, allowing the creation and efficient management of modular components. This modular approach not only facilitated seamless data handling but also ensured the scalability necessary to support the platform's growing user base

Third-party vendor implementation

By integrating third-party solutions, we enabled Sidepocket to provide its users with a streamlined mechanism for buying and selling shares, thus enriching the user experience. Through seamless integration of third-party solutions, we empowered Sidepocket to offer its users an enhanced and streamlined mechanism for buying and selling shares.

APEX implementation and Plaid implementation

As the app facilitates asset allocation for investment purposes, integration with banks, digital wallets, and other financial instruments becomes vital. APEX and Plaid implementation would ensure security along with instant access to financial information, advanced functionalities, and more.

Implementation of Admin Panel security measures

To secure the confidentiality and integrity of sensitive investor and asset data, we implemented a robust identity and access management solution that enables the admins to streamline user management - efficiently granting or revoking access, tracking user activities, and more.

The Impact

  • Through the strategic implementation of innovative solutions, MindInventory has not only addressed formidable challenges but has also enabled Sidepocket to actively reshape the landscape of investments. Here is a comprehensive view of the tangible impact and success of the implemented backend solutions:
15%

Increase in Revenue

95%

RiAccuracy Rate

70%

Increase in App Performance

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